#CEXvsDEX101 Centralized exchanges (CEXs) and decentralized exchanges (DEXs) are key players in the cryptocurrency ecosystem. CEXs, like Binance and Coinbase, are operated by centralized entities, offering high liquidity, user-friendly interfaces, and customer support. They require users to trust the platform to safeguard funds, posing a security risk.

DEXs, like Uniswap and PancakeSwap, are blockchain-based, allowing peer-to-peer trading without intermediaries. They offer greater privacy, security, and access to a wide range of tokens, but often lack liquidity and can be less intuitive for beginners. The choice between CEX and DEX depends on priorities like ease of use, control, and security preferences.